Published on 2/3/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $5.52 million digital securities tied to Russell 2000
By Marisa Wong
Morgantown, W.Va., Feb. 3 – Wells Fargo & Co. priced $5.52 million of 0% digital securities with buffered downside due Dec. 6, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 85% of its initial level, the payout at maturity will be the maximum settlement amount of $1,113.80 for each $1,000 principal amount.
Otherwise, the investors will lose 1.1765% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Digital securities with buffered downside
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Underlying index: | Russell 2000
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Amount: | $5,522,000
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Maturity: | Dec. 6, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return is at least negative 15%, par plus 11.38%; if index falls by more than 15%, 1.1765% loss per 1% decline beyond 15%
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Initial level: | 1,361.228
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Threshold level: | 1,157.0438, 85% of initial level
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Pricing date: | Feb. 1
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Settlement date: | Feb. 8
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.84%
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Cusip: | 94986R3X7
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